BlackBerry Ltd (BBRY) Targets Small and Medium Enterprises in India

Buoyed by the ongoing growth on the software side of the business, BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) has announced plans to expand its reach in India with a series of partnerships in the enterprise market. The Canadian company is hoping to seal a number of deals with small and medium enterprises in the country as it moves to bolster its revenue streams on the software front.

BlackBerry is currently in talks with Samsung ELECT LTD(F) (OTCMKTS:SSNLF) as part of a plan to integrate the Korean’s security system KNOX with its sales force. A potential deal will enable the Canadian company to offer Galaxy owners an added layer of security on their phones.

Demand for BlackBerry Ltd (NASDAQ:BBRY)’s security solutions, as well as services, has been on the rise seen by the company’s 40% share in the enterprise segment in India. Since the unveiling of the cross-platform BES 12 solution, the company has seen an uptick in the number of companies it attends to on the web. The fact that the platform supports both iOS and Android devices means the platform can cater for a majority of devices in the market.

Efforts on the software side of the business are finally paying off having been bashed by competition on the hardware side of the business where Android and iOS devices continue to control the landscape. Operations in India saw the company walk away with a hefty double-digit growth in software and services revenue, having experienced a 20% expansion globally.

Software business having accounted for BlackBerry Ltd (NASDAQ:BBRY)’s 58% of the total revenue for the three months ending February 28 enabled the company to register a surprise profit of $28 million. The company is finally finding its footing in the business having been at a point of near collapse a few years back. The net profit was a huge improvement compared to a net loss of $148 million posted last year same period, an indication that CEO, John Chen, turnaround plan is finally panning out.

BlackBerry Ltd (NASDAQ:BBRY)’s BBM Meeting and BBM Protected continue to witness strong demand in India as head of operations in the country Sunil Lalvani affirms desire to target over seven million small and medium enterprises. There has also been an uptick in carrier billing model in India as well as enhanced Sim-based licensing where subscribers pay a fixed monthly fee.

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.